POST AND TELEGRAPH.

King Country Chronicle, Volume VII, Issue 592, 9 August 1913, Page 3

POST AND TELEGRAPH.

The business of the Post and Telegraph Department continues to show a steady and gratifying improvement. The receipts during the year amounted to £1.167.977. an increase of £73,169 over the previous year. The expenditure amounted to £1,066,772. an excess of £SS7I beyond the amount voted, and £80.245 over the previous year. It will be realised, however, that the expenditure of this Department must necessarily increase with the expansion of business and conse quent increase in revenue. The Savings Bank business shows that the public confidence in the Department is unabated, the deposits having amounted to a total of £ll,725.183, a higher amount than ever previously received in one year. The deposits were in excess of withdrawal', and the amount standing at credit of depositors on December 31st, 1912, was £16,330,257. an increase of £787,070 over the amount at credit on the corresponding date of 1911. Owing to the increase in the ruling rale of interest obtainable for ordinary investments the withdrawals from the Post Office Savings Bank were unusually heavy during the year. The money-order and postal note business also shows a very considerable increase, the orders and notes issued exceeding in value tho:e of the previous year by Well over half a million sterling.

The inauguration of the party line system has helped to very largely increase the number of telephone exchange subscribers, and this has necessitated a heavier expenditure on the construction of lines than was antici patecl. The revenue derived from this class of business is. however, very satisfactory, and is sufficient to meet all interest charges on the capital borrowed as well an the working expnsee.s It amounted to no less than £201,237 during the year. The net expenditure out of Public Works Fund for telegraph extension was £251,375.